Andhra Pradesh secures ₹9.88 lakh crore investment commitments at CII Partnership Summit in Vizag

VISAKHAPATNAM The Andhra Pradesh government would implement the Investment Protection Act with retrospective effect from 2024 and initiate the provision of clearances to industries in real time based on self-certification to encourage investors, Chief Minister N. Chandrababu Naidu has said, adding that the proposed law would be passed in the coming session of the Legislative Assembly. Addressing the media after the valedictory of the 31st CII Partnership Summit here on Friday, Mr.

Naidu said there was a pressing need for good governance and that investors needed to be reassured about the safety of their investments in the event of a regime change. This was “keeping in view the ruin caused between 2019 and 2024”, which aggravated the impact of State bifurcation. The government would be liberal in facilitating businesses, but not be lenient in ensuring accountability for the support being availed, Mr.

Naidu said, noting that while mobilising investments with due sense of urgency, it was ensuring that they would take tangible shape as per the committed timelines.